Wilhelmsen Ships Service acquires Nalfleet
Jan. 6, 2010 - Wilhelmsen Ships Service has signed a definitive agreement to acquire Nalfleet, the marine division of Nalco, the world's largest sustainability services company. Together with its Unitor chemical range, this will further strengthen and enhance Wilhelmsen Ships Service's marine chemicals portfolio.
Nalfleet provides marine water treatment chemicals and is a sales and technical service organisation supported by an international manufacturing and distribution system operating in more than 500 major ports around the world. Wilhelmsen Ships Service's own global network is already capable of servicing 2200 ports in 125 countries. This capacity was built upon the Wilhelmsen Maritime Services acquisition of Unitor in 2005 and the subsequent merger with Barwil Agencies.
"This acquisition is a good strategic fit for Wilhelmsen Ships Service and enables Nalco to focus on its core industrial business and divest of its marine business through Nalfleet." says David Tandy, President of Wilhelmsen Ships Service. "Acquiring Nalfleet matches Wilhelmsen Ships Service's growth ambitions and makes it possible for us to realise the future market potential. In order to be the preferred partner of our customers we always need to look out for ways to further develop our global offer. Nalfleet is a valuable addition to our chemical expertise and total product range. I am confident that this will create value for our customers worldwide".
For more than six decades, Nalfleet has successfully supplied chemicals to the maritime industry. Graham Hunter, General Manager of Nalfleet comments, "We are a dedicated team at Nalfleet and with a consistent customer focus we have built a solid service organisation offering world-class marine chemicals. With its commitment to the marine sector, advanced operating systems, resources and solid market position, Wilhelmsen Ships Service has a lot to offer. Becoming a part of this global network is definitely an exciting step into the future for us."
David Tandy added, "Nalfleet is a welcome addition to our global organisation servicing customers with premium products and services. The Unitor and Nalfleet brands will remain and we will develop sound business and marketing strategies for both ranges of chemicals. Nalfleet and its competent team will without doubt strengthen our ability to improve operational efficiency for our existing and future customers."
EC Hambro Rabben & Partners Ltd acted as corporate finance advisors to Wilhelmsen Ship Service.